Daily Current Affairs – March 31, 2023
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Daily Current Affairs - Banking - March 31, 2023
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National News
Only about 50% of allocated funds for Samagra Shiksha scheme released till February
- Just a month before the financial year of 2022-23 comes to a close, in February, the Centre had released just a little over 50% of the total allocated funds for the Samagra Shiksha scheme run by the Ministry of Education (MoE).
- Samagra Shiksha, the Central government’s school education programme, was launched in April 2018 and acts as the primary vehicle for the implementation of the Right of Children to Free and Compulsory Education Act, 2009.
- The latest data available with the MoE reveals that, of the allocated ₹37,383 crore for FY2022-23, up to ₹19,709 crore (52%) has been released by the Centre to the States till February 9 this year.
- Ministry of Education – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Subhas Sarkar, Minister of State (Bankura, West Bengal), Annpurna Devi Yadav, Minister of State (Kodarma, Jharkhand), Rajkumar Ranjan Singh, Minister of State (Inner Manipur,Manipur)
Wifi facility provided at 6108 railway stations
- Indian Railways have decided to provide free Wi-Fi at all railway stations except halt.
- So far, Wi-Fi facility has been provided at 6108 stations.
- Indian Railways is committed to make all its railway stations and trains accessible for Persons with Disabilities (Divyangjan) as part of “Sugamya Bharat Mission”.
- Improvement/ augmentation of customer amenities including those for differently abled passengers (Divyangjan) at Railway stations is a continuous process.
- Uttar Pradesh had 768 stations provided with Wifi.
- The Amrit Bharat Station Scheme has recently been launched for development of Railway stations on Indian Railways.
- Presently, 1275 railway stations have been identified for development under this scheme including 55 in the State of Karnataka, 87 in the State of Gujarat, 123 in the State of Maharashtra, 82 in the State of Rajasthan,49 in the State of Assam,4 in the State of Tripura and 1 each in the State of Arunachal Pradesh Manipur, Meghalaya, Mizoram, Nagaland, and Sikkim.
- Ministry of Railways – Ashwini Vaishnaw,Union Minister (Rajya Sabha MP,Odisha) – Raosaheb Danve,Minister of State (Jalna,Maharashtra) Darshana Jardosh,Minister of State (Surat,Gujarat)
Target of 12,200 km set for construction of National Highways (NHs) in the country during the current financial year 2022-23
- Ministry has set a target of 12,200 km for construction of National Highways (NHs) in the country during the current financial year 2022-23.
- The targets to construction of NHs for coming years have not yet been fixed.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – Mansukh L. Mandaviya,Minister of State (Rajya Sabha MP,Gujarat)
IITRDF, GIC Resign MoU for development of Semi-Transparent Perovskite Solar Cells
- In its ongoing global climate protection efforts, the Indian Institute of Technology Roorkee (IIT Roorkee) has kick-started a new collaboration with Insurance giant General Insurance Corporation of India (GIC Re) on the development of energy-generating solar window technology.
- This is a Corporate Social Responsibility (CSR) initiative of the General Insurance Corporation of India (GIC Re).
- The new solar window technology will be designed and developed by lead scientist Prof. Soumitra Satapathi, Department of Physics.
- In this regard, an MoU has been signed between the IIT Roorkee Development Foundation (IITRDF) and the General Insurance Corporation of India.
India to start coal export by 2025-26
- Asserting that India has adequate coal reserves, Union Coal Minister Pralhad Joshi said the country will start exporting the dry fuel by 2025-26.
- From a net importer of coal, India is moving towards becoming a net exporter of non-coking coal, Joshi said on the sidelines of the seventh round of auctions for commercial mining of coal blocks in the national capital.
- Ministry of Coal – Pralhad Venkatesh Joshi,Union Minister (Dharwad,Karnataka)
International News
India, Sri Lanka to jointly build solar power plant in island nation
- India and Sri Lanka have agreed to jointly build in two stages a 135-megawatt solar power plant in the island nation’s eastern port district of Trincomalee to promote renewable energy.
- Sri Lankan Cabinet has given approval for the project as the country aims to generate 70 per cent of its electricity requirement by 2030 from renewable energy sources.
- Sri Lanka – Sri Jayawardenepura Kotte (legislative) Colombo (executive and judicial) (Capital) – Sri Lankan rupee (Currency) – Ranil Wickremesinghe (President) – Dinesh Gunawardena (Prime Minister) – Sinhala & Tamil (Language)
State News
Indian Railways completes 100% electrification of rail network in Haryana
- Indian Railways has achieved a significant milestone, by completing 100% electrification of Railway network in Haryana State.
- The existing Broad Gauge network of Haryana is 1,701 Route kilometre, which is now 100% electrified, resulting in saving on account of reduced line haul cost (about 2.5 times lower), heavier haulage capacity, increased sectional capacity, reduced operating & maintenance cost of electric loco, energy efficient and eco-friendly mode of transportation with reduced dependence on imported crude oil, saving of foreign exchange.
- Haryana – Chandigarh (Capital) – Manohar Lal Khattar (CM) – Bandaru Dattatreya (Governor) – Hindi (Language)
1st G20 Disaster Risk Reduction Working Group meeting begins in Gandhinagar; 2nd G20 Sherpa meet in Kerala
- The First G20 Disaster Risk Reduction Working Group meeting under India’s G20 Presidency began at Gandhinagar in Gujarat.
- Principal Secretary to the Prime Minister Dr P K Mishra and Minister of State for Communications Devusinh Chauhan inaugurated the meeting.
- Around 100 delegates from the G20 member countries, invitee countries and from nine International organisations are participating in the three-day event.
- The second Sherpa meeting of the G20 Summit under India’s Presidency began at the idyllic village of Kumarakom in Kerala.
- Over 120 delegates from G20 member nations are participating in the event being chaired by India’s Sherpa Amitabh Kant.
- The meeting will bring together nine invitee countries and various international and regional organisations.
- During the four-day meet, the delegates will hold multi-lateral discussions on G20’s economic and developmental priorities, besides addressing contemporary global challenges.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
Banking and Finance
RBI clears CCL of Rs 29,000 crore for wheat procurement
- The Reserve Bank of India (RBI) cleared a sum of Rs 29,000 crore towards Cash Credit Limit (CCL) for the procurement of wheat in Punjab during the ensuing Rabi Marketing Season (RMS) following which Chief Minister Bhagwant Mann directed officers to ensure smooth and hassle-free procurement.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Ambit Finvest, Bajaj Finserv Direct join hands for digital lending platform for MSMEs
- Ambit Finvest has partnered with SKALEUP, the digital technology services arm of Bajaj Finserv Direct, Bajaj Finserv to develop a D2C (direct-to-customer) instant loan application to give business loans to MSME business owners through a completely paperless and automated digital onboarding process.
- Ambit Finvest is the NBFC of the Ambit Group and has served over 50,000 MSME business owners and disbursed more than ₹3,500 crores in loans.
- Bajaj Finserv Limited – May 2007 (Founded) – Pune (HQ) – Sanjiv Bajaj (Chairman, MD & CEO)
Business and Economy
Government to raise Rs 8.88 lakh crore via market borrowing in H1 FY24; Sovereign Green Bond in H2
- The Government of India plans to raise Rs 8.88 lakh crore through market borrowing in the first half of the upcoming fiscal year 2023-24 (April-September).
- The borrowing will fund the revenue gap for pushing economic growth.
- Out of the gross market borrowing of Rs 15.43 lakh crore estimated for FY 2023-24, 57.5 per cent, or a sum of Rs 8.88 lakh crore will be borrowed in the first half.
- The borrowing is scheduled to be completed in 26 weekly tranches of Rs 31,000-39,000 crore and will be spread across 3, 5, 7, 10, 14, 30 and 40-year securities.
- The share of borrowing under different maturities will be 3 years (6.31 per cent), 5 years (11.71 per cent), 7 years (10.25 per cent), 10 years (20.50 per cent), 14 years (17.57 per cent), 30 years (16.10 per cent) and 40 years (17.57 per cent).
Indian economy may grow at 6.5 percent in coming decade: CEA V Anantha Nageswaran
- The Indian economy is likely to grow at the rate of 6.5 per cent in the coming decade on the back of the turnaround in financial and investment cycle, Chief Economic Advisor (CEA) V Anantha Nageswaran.
Agriculture exports register over 6% rise during April 2022 to January 2023
- Agriculture exports have registered over six per cent rise during April, 2022 to January, 2023 over the corresponding period of the previous financial year.
- The agricultural exports during this period was over 43 billion dollars.
- In order to ensure that the farmers benefit from exports, the Government had launched a Farmer Connect Portal for providing a platform for Farmer Producer Organisations and cooperatives to directly interact with exporters.
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
Agreements and MoUs signed
NTPC Renewable Energy Limited signs Term Sheet with Greenko ZeroC Pvt Ltd
- NTPC Renewable Energy Ltd, a wholly owned subsidiary of NTPC Green Energy Limited, has signed Term Sheet with Greenko ZeroC Pvt Ltd (A Greenko Group Company) to Supply 1300 MW Round the Clock RE Power for powering Greenko’s upcoming Green Ammonia Plant at Kakinada, India.
- The agreement between the two companies is one of the world’s single largest contract for supply of round-the-clock renewable supply for an industrial client.
- NTPC Limited (National Thermal Power Corporation Limited) – 07/11/1975 (Founded) – New Delhi (HQ) – Gurdeep Singh (Chairman & MD)
Acquisitions and Mergers
Welspun completes Sintex-BAPL acquisition for ₹1,251 crores
- Propel Plastic Products Private Limited, a wholly owned subsidiary of Welspun Corp Limited (WCL), has discharged the consideration to the creditors of Sintex-BAPL Limited for an amount aggregating Rs 1,251 crore in the form of upfront cash in terms of the approved resolution plan.
Appointments
Sheikh Mansour Bin Zayed Al Nahyan appointed as the Vice-President of UAE
- The United Arab Emirates President, Sheikh Mohamed bin Zayed Al Nahyan, has made a significant announcement regarding the country’s leadership.
- With the approval of the UAE Federal Supreme Council, Sheikh Mansour Bin Zayed Al Nahyan has been appointed as the UAE Vice-President, the incumbent Vice president Sheikh Mohammed Bin Rashid Al Maktoum, will also continue in the same role.
- United Arab Emirates – Abu Dhabi (Capital) – UAE dirham (Currency) – Mohamed bin Zayed Al Nahyan (President) – Mohammed bin Rashid Al Maktoum (Prime Minister) – Ahmad Nawaf Al-Ahmad Al-Sabah (Prime Minister) – Arabic (Language)
Sports News
Jaipur to get India's 2nd largest cricket stadium named after Anil Agarwal
- Vedanta’s Hindustan Zinc Limited (HZL) signed an MoU with the Rajasthan Cricket Association for the development of the world’s third-largest cricket stadium in the village of Chonp in Jaipur.
- Vedanta’s HZL will spend INR 300 crore on the stadium, one of the largest corporate investments in Indias sports infrastructure.
- The stadium would be named as Anil Agarwal International Cricket Stadium, Jaipur.
- The highlights of the new stadium are — it is the biggest cricket playing field in the world, is one of the world’s biggest Cricket stadiums with a seating capacity of 75,000.
- (2nd largest in India and 3rd largest in the world), spread over 100 acres (4,04,685 sqm) biggest playing area and is well connected via Delhi-Jaipur Express Highway.
- Rajasthan – Jaipur (Capital) – Ashok Gehlot (CM) – Kalraj Mishra (Governor) – Hindi (Language)
Important Days
World Piano Day
- World Piano Day, the annual event is observed on the 88th day of the year.
- This year it is celebrated on March 29.
- Nils Frahm, the German pianist, and composer was the one who initiated World Piano Day in 2015.
Defence
MoD inks contracts for Army and IAF: Air defence ‘Project Akashteer’ and Sarang Electronic systems
- The Ministry of Defence signed three contracts – two with Bharat Electronics Limited (BEL) and one with NewSpace India Limited (NSIL) – at a total cost nearly Rs 5,400 crore.
- The first contract with BEL pertains to the procurement of the Automated Air Defence Control & Reporting System ‘Project Akashteer’ worth Rs 1,982 crore for the Indian Army.
- The second contract with BEL relates to the acquisition of Sarang Electronic Support Measure (ESM) systems along with the associated Engineering Support Package from BEL, Hyderabad at an overall cost of Rs 412 crore for the Indian Navy.
- The contract with NSIL, a Central Public Sector Enterprise under the Department of Space, Bengaluru pertains to the procurement of an advanced Communication Satellite, GSAT 7B, which will provide High Throughput Services to the Indian Army at an overall cost of Rs 2,963 crore.
- According to the official from the MoD, all these projects are under Buy {Indian – IDMM (Indigenously Designed Developed and Manufactured)} category.
- Ministry of Defence – Rajnath Singh,Union Minister (Lucknow,UP) – Ajay Bhatt,Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)
India's defence ministry signs 10 contracts worth Rs 5,498 crores with Bharat Electronics
- The Ministry of Defence (MoD) has signed 10 contracts totalling Rs 5,498 crore with state-owned aerospace and defence electronics company Bharat Electronics Limited (BEL) for Indian armed forces.
- For Indian Air Force, a contract was signed to supply 90 units of Electronic Warfare (EW) Suite Equipment for Medium Lift Helicopter.
- Another contract for Akash Missile System was signed for the maintenance of two squadrons.
- It is a medium-range surface-to-air missile (SAM) system, developed by DRDO and manufactured by Bharat Electronics.
- The Akash Missile system can target aircraft upto 30 km away and has the capabilities to neutralise aerial threats like fighter jets, cruise missiles and Air-to-Surface Missiles.
- For the Indian Army, contracts for Automated Air Defence Control and Reporting System (Project Akashteer) and Instant Fire Detection and Supressing System IFDSS for T 72 were signed.
- Further, for Indian Navy, contracts for Software Defined Radio (1,265 units), HD VLF HF Receiver (1,178 units), and Sarang (12 units), were signed.
- Bharat Electronics Limited (BEL) – 1954 (Founded) – Bangalore (HQ) – Bhanu Prakash Srivastava (Officiating Chairman & MD)
Daily Current Affairs - March 31, 2023 - Consolidated
- Only about 50% of allocated funds for Samagra Shiksha scheme released till February
- Wifi facility provided at 6108 railway stations
- Target of 12,200 km set for construction of National Highways (NHs) in the country during the current financial year 2022-23
- IITRDF, GIC Resign MoU for development of Semi-Transparent Perovskite Solar Cells
- India to start coal export by 2025-26
- India, Sri Lanka to jointly build solar power plant in island nation
- Indian Railways completes 100% electrification of rail network in Haryana
- 1st G20 Disaster Risk Reduction Working Group meeting begins in Gandhinagar; 2nd G20 Sherpa meet in Kerala
- RBI clears CCL of Rs 29,000 crore for wheat procurement
- Ambit Finvest, Bajaj Finserv Direct join hands for digital lending platform for MSMEs
- Government to raise Rs 8.88 lakh crore via market borrowing in H1 FY24; Sovereign Green Bond in H2
- Indian economy may grow at 6.5 percent in coming decade: CEA V Anantha Nageswaran
- Agriculture exports register over 6% rise during April 2022 to January 2023
- NTPC Renewable Energy Limited signs Term Sheet with Greenko ZeroC Pvt Ltd
- Welspun completes Sintex-BAPL acquisition for ₹1,251 crores
- Sheikh Mansour Bin Zayed Al Nahyan appointed as the Vice-President of UAE
- Jaipur to get India’s 2nd largest cricket stadium named after Anil Agarwal
- World Piano Day
- MoD inks contracts for Army and IAF: Air defence ‘Project Akashteer’ and Sarang Electronic systems
- India’s defence ministry signs 10 contracts worth Rs 5,498 crores with Bharat Electronics
Daily Current Affairs - February, 2023
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